AMC Entertainment (NYSE:AMC) Shares Gap Down to $4.98

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.98, but opened at $4.87. AMC Entertainment shares last traded at $5.03, with a volume of 2,770,582 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently commented on AMC shares. Citigroup lifted their price objective on AMC Entertainment from $3.10 to $3.20 and gave the stock a “sell” rating in a research report on Tuesday, May 14th. Wedbush lowered their price target on AMC Entertainment from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.54.

AMC Entertainment Stock Performance

The company has a market cap of $1.47 billion, a PE ratio of -3.92 and a beta of 1.84. The firm has a fifty day simple moving average of $4.38 and a 200 day simple moving average of $4.43.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.16). The business had revenue of $951.40 million during the quarter, compared to the consensus estimate of $951.40 million. As a group, equities analysts predict that AMC Entertainment Holdings, Inc. will post -0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of AMC Entertainment in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC lifted its stake in shares of AMC Entertainment by 817.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,945 shares of the company’s stock valued at $61,000 after purchasing an additional 8,861 shares in the last quarter. Mayflower Financial Advisors LLC acquired a new position in shares of AMC Entertainment in the 1st quarter valued at about $37,000. Eudaimonia Partners LLC acquired a new position in shares of AMC Entertainment in the 4th quarter valued at about $71,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of AMC Entertainment in the 4th quarter valued at about $72,000. 28.80% of the stock is owned by institutional investors and hedge funds.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.